MVV Energie (MVV1) Q4 2025 earnings summary

Executive summary

• Adjusted sales for FY 2025 declined 15% year-over-year to €6,083 million, with adjusted EBIT down 15% to €360 million and adjusted annual net income after minority interests down 27% to €171 million.

• Cash flow from operating activities decreased 7% to €462 million compared to the previous year.

• Investments increased 20% to €501 million, reflecting a focus on future energy supply.

Financial highlights

• Adjusted ROCE fell to 9.8% from 12.5% year-over-year.

• Regular dividend proposed at €1.30 per share, up from €1.25, with a payout ratio of 50%.

• Net financial debt rose to €1,139 million as of September 30, 2025, from €926 million the previous year.

• Adjusted equity ratio improved to 42.5% from 39.7%.

Outlook and guidance

• Operating adjusted EBIT for FY 2026 is forecasted between €200–240 million, significantly lower than FY 2025.

• Investments in FY 2026 are expected to be significantly higher than the previous year.

• Guidance is subject to market conditions, commodity prices, plant availability, and geopolitical risks.